Exxon Mobil Corp. filed a lawsuit in Texas against two sustainable investment companies, more specifically Arjuna Capital and Follow This, in an effort to stop them from submitting a shareholder proposal that would push the oil giant to further repress its greenhouse-gas emissions.
"Defendants are asking Exxon Mobil to change its day-to-day business by altering the mix of, or even eliminating, certain of the products that it sells. [The aim is] to force Exxon Mobil to change the nature of its ordinary business or to go out of business entirely," the company stressed in the lawsuit, insisting that the two became its shareholders just to reach these goals.
Back in December 2023, Arjuna put forth a proposal urging Exxon shareholders to compel it to "go beyond current plans, further accelerating the pace of emission reductions in the medium-term," which Follow This supported.
